Q1 Who can become a member of Montego Co-op. Credit Union?

A1 Persons living, working or studying in the parish of St. James, of sound mind and reputable character

Q2 What are the requirements to open an account?

A2 Two (2) most current utility bills in your name, or two (2) reference forms completed signed and stamped; (1) by a JP and the other by an active MCCU member or a Minister of Religion along with a valid ID and TRN. The minimum deposit is $2,800.00.

Q3 What is the Permanent Share?

A3 Your Permanent Share is an investment in your Credit Union. You cannot withdraw your investment without terminating your membership in the Credit Union. However, your Permanent Share will be returned to you if you close your Credit Union account.

Q6 What types or loans are granted at MCCU?

A6 Loans are granted for all your needs throughout every phase of your life. MCCU boasts the unique advantage of offering the Student Loan facility. A moratorium is granted to full-time students, for the course of study and a further (6) months grace period after completion.

Q7 How long does it take for a loan to be approved?

A7 It takes from 15 minutes up to 72 hours for approval. However, a longer period is required for the processing and approval of mortgage and business loans.

Q8 Can I access my account or pay my bills online?

A8 Yes, you can check your account balance, pay your bills, do mobile top-up and transfer funds using the Credit Union’s E-payment service known as “CONEC”. Come in and apply for a complimentary debit card and learn more about CONEC”.

9Q What is MCCU’s opening hours?

A9 We are opened from 8:30 am to 3:00 pm Monday to Thursday and 8:30 am to 4:00 pm on Fridays.

Q10 Where can I use my Debit Card?

10 Your Debit Card can be used at any point of sale location and at ATM Multilink Island wide. However, deposits should only be done at MCCU’s ATM, 6 Sam Sharpe Square, Montego Bay.

Q11 Does the Credit Union pays interest on my money?

A11 Yes. Interest is paid on all your saving instruments and based on the performance of your Credit Union, an annually dividend is also paid.

Q12 Can someone be joint on my account?

A12 Yes, there are more than one options to add someone to your account. For additional information, please speak with a Member Service Representative.

Q13 What does beneficiary means?

A13 A beneficiary is the person you have designated to receive your funds in the Credit Union after you die.

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